Dhaka, Bangladesh (BBN) – The BBN (Bangladesh Business News) has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Forex market still volatile
Bangladesh Bank has failed to cool down the volatility in the foreign exchange market despite an injection of more than $2.30 billion so far in fiscal 2017-18. The turmoil in the foreign exchange market will exacerbate in the months to come on the back of higher import payments against lower export earnings, said economists and bankers.
Govt to give treatment assistance to workers
The government has decided to offer assistance for treatment of sick readymade garment workers and education of workers’ children from the RMG sector Central Welfare Fund. The Bangladesh Workers’ Welfare Foundation under the labour ministry sent a letter recently to the Bangladesh Garment Manufacturers and exporters Association seeking application from workers for financial assistance for medical treatment.
Banks’ excess liquidity increases 11% in April
The overall excess liquidity in the banking system increased by nearly 11 per cent in April as the central bank slashed the cash reserve requirement (CRR). The excess liquidity with the banks rose to around BDT 805 billion in April 2018 from BDT 727 billion a month before, according to the officials of the Bangladesh Bank (BB).
E-shops doing better Eid business than last year
While alluring Eid sales gaining momentum in regular shopping malls and other markets, online shops are increasingly attracting new customers through discounts and other offers. Amid the traffic chaos on the streets and busy lifestyles, people are finding online shopping is an alternative to hazards and saves time.
Bangladesh’s trade deficit crosses $15bn in ten months
Bangladesh’s overall trade deficit crossed US$15-billion mark in the first ten months of this fiscal, following higher import payments against lower export receipts. The gap in merchandise trade with the rest of the world rose by 87.54 per cent or $7.16 billion to $15.33 billion in July-April period of FY 2017-18, from $8.18 billion in the same period of the previous fiscal, according to the latest central bank statistics.
Actual inflow of concessional loans keeps sliding
The inflow of concessional loans for financing the national budget has remained lower than the original targets over the years, according to budget documents. Such inadequate foreign funding for the budget leaves a negative impact on the government’s ability to finance deficit.
Imports dominate kids’ dresses
Parents along with their children are hitting the capital’s shopping centres as they look to purchase their desired outfit for Eid-ul-Fitr, the biggest Muslim festival. One such unit was Sabina Akter, who came to Mum & Little Ones on the Satmasjid Road in Dhanmondi with her husband and four-year-old daughter.
Govt scraps AIT waiver for local LCs
The government has extended the coverage of advance income tax on local letter of credit or any financing agreement for purchasing goods, imposing the AIT on small-scale businesses. Finance minister on June 7 in his budget proposals proposed to amend a provision of the income tax law thoroughly for brining all local LCs under the AIT coverage scrapping the existing exemption up to Tk 5 lakh.